My state's income tax lets me deduct mutual fund income originating from government securities. Last year Vanguard went to using consolidated brokerage accounts rather than individual mutual fund reports. My tax statement provides consolidated entries for all relevant 1099-DIV boxes. It also provides supplemental information for each mutual fund when relevant to tax return preparation. Many of the mutual funds I hold have government securities in their portfolio. Prior to last year, I used a separate TT 1099-DIV entry for each mutual fund and had no problem reporting the relevant government security income earned from government securities. For this year's return, using TT, can I use the consolidated 1099-DIV brokerage account numbers for anything at all, or must I still prepare a separate 1099-DIV entry for each fund that has government security income and ignore the consolidated numbers?
Should I enter the consolidated numbers on a "brokerage account" DIV and in addition, use a separate 1099-DIV entry for each fund with government security income but only fill in the fund's identifying information and the government security income numbers? I don't want to do anything that would double report any income category!
